Profits and losses in the US sector

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Canadian results progressThe Insurance Bureau of Canada (IBC) (see table 1) says property and casualty results improved in the fourth quarter of 2003, which led to an underwriting gain of C $375m ($287m) on C $8708m in premiums. This was an increase of C $144m in the previous quarter on C $7342 in premiums.The industry's combined ratio also improved at year end to just below 99%, compared to 105.8% the previous year.Following six years of declining returns, including two of the worst years i